Liz Forster

July 2011 Market Review

The number of Sold MLS Listings in Sun Peaks during the month of July is up marginally from the number of sales in July 2010. Overall year to date sales are down compared to 2010 and Sun Peaks remains a Buyer's Market. List prices have been adjusting downward in conjunction with the global recession and current sale prices are generally significantly less than those achieved 3 or 4 years ago for similar properties. Buyers are looking for 'deals' and finding them.

British Columbia's long awaited HST Referendum vote is over. The final day for receipt of mail-in ballots was August 5th (extended as a result of the postal strike). Results are expected to be announced by the end of August. British Columbians are looking forward to putting this  issue behind them and to moving forward with confidence. Here is a report on BC's HST Referendum from Canada's 'Globe And Mail' newspaper: www.theglobeandmail.com/hst-ballots

This week's stock market volatility has some speculators predicting further rate cuts and mortgage rates that could soon be the lowest Canadians have ever seen. http://www.theglobeandmail.com/interest-rates

Cameron Muir, BC Real Estate Association's Chief Economist, predicts a silver lining as a result of recent global economic uncertainty:

"The silver lining in the recent global economic uncertainty is that mortgage rates have the potential to reach record lows in the coming weeks as investors flock into bond markets," notes Muir.  "The increased affordability and added purchasing power from lower mortgage rates will help bolster housing demand".  

 

Below are Resort-wide real estate transactions as reported on the cooperative MLS system.  Our office listings are linked directly to our website.Below are Resort-wide real estate transactions as reported on the cooperative MLS system.  Our office listings are linked directly to our website.

New Listings

Condos Hotels

421 Nancy Greene's Cahilty Lodge, Studio Loft, $129,900

Condos/Townhomes

7 Trail's Edge, 4BR, $569,000

15 Forest Trails, 3 BR, $389,900 

16 McGillivray Creek, 2 BR, $362,500

20 Sun Mountain Villas, 2BR, $282,900

2441 Fairways Drive, 4BR, $569,000

16 Fairway Cottages, 4 BR, $509,000

4245 Bella Vista Drive, $329,000

2553 Mountain View Drive, $184,900

159/161 NGCL, Studio Lock Off, Reduced $10,000, List $129,900

20 The Peaks, 2 BR, Reduced $24,000, List $315,000

1344 Burfield, 5 BR, Reduced $10,000, List $279,000

41 Trail's Edge, 3 BR, Reduced $59,100, List $525,000 

1346 Burfield Drive, Lot, Reduced $13,100, List $175,900 

Sales  

30 Timberline Village, 2 BR, List $349,900

 2 Sun Mountain Villas, 2 BR, List $235,000

August Preview 

7336 Cahilty Cres., Whitecroft, 2 BR Log Home, List $365,000

*Except properties with owner use restricted to 56 days/year

*All properties are 'Fully Furnished' unless otherwise noted.

Please drop by the office to say hello, view the latest Development Plans, browse our listing gallery and inquire about setting up complimentary Private Client Services 'PCS' notifications tailored to your specific property criteria. We always look forward to your visits and are pleased to assist you with your questions. 

Liz Forster, Jennifer Littlechild, Lisa Villamo and Jessica Chapman 

For Shuswap and area listings visit www.shuswapcollection.com